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MYB - MYOB Finance Australia

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MYOB successfully completes offer and issues $155 million of subordinated notes

21 Dec 2012

MYOB Finance Australia Limited (the "Issuer"), a member of the MYOB group of companies (“MYOB”), today announced the successful completion of an offer of MYOB Subordinated Notes (the “Offer”), raising $155 million in total.

MYOB is a leading provider of business management, accounting, payroll and tax software in Australia and New Zealand. On 26 November 2012, the Issuer launched an Offer of MYOB Subordinated Notes ("Notes") at $100 each to raise $125 million, with the ability to raise more or less.

On 4 December 2012, MYOB announced the allocation of $150 million of Notes on a firm basis to brokers and institutional investors. After closing the General Offer, the final size of the Offer was capped at $155 million. Today, 1.55 million Notes were issued at $100 each.

The net proceeds will be used to partly repay senior debt facilities that were used to finance the acquisition of MYOB and make a return of capital to the current owner of the MYOB Group, who may reinvest those proceeds in future product development or for acquisitions by MYOB, return it to its ultimate owners, or use the proceeds itself at its discretion.

MYOB's Chief Executive Officer, Tim Reed, said, "We are very pleased with the level of investor support shown for the Offer during this exciting stage of MYOB's development. The strong demand for the Notes, which was capped at an Offer size of $155 million, reflects the market’s confidence in MYOB's ability to leverage strategic opportunities and reinforce our position as a market leader in management solutions to SMEs and accountants in Australia and New Zealand."
See full article: http://myob.com.au/myob/news-media-1258090872838#ixzz2Fg3GIXoh

http://www.myob.com.au
 

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On July 14th, 2015, MYOB Finance Australia Limited (MYB) was removed from the ASX's official list following either redemption or conversion of all of its subordinated notes into ordinary shares in MYOB Group Limited.
 

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